The hassle of looking for spare change in stores, petrol stations and many other outlets may be over – a company in Australia called NPP (New Payments Platform) are working closely with banks and merchants to provide a scan-to-pay (via a QR code) service in its real-time network.
Other scan-to-pay services have been a wild success in Asia and are mainly used for transactions of small value. In the United Kingdom we have seen huge demand for services such as Apple Pay and Android Pay, where users pay for small transactions using their mobile phone. A similar method can also be used on a user’s bank card where a transaction of £30.00 maximum can be paid by just tapping your card on a reader.
This type of technology is very popular with street and mobile vendors along with pop-up shops/market stools. This is because it is fast and removes the point of having a dedicated payment terminal; this is expensive and takes up much-needed floor space. It also eliminates any chance of being handed counterfeit currency and the money lands in the receivers account in real time.
NPP’s Chief Executive Adrian Lovney said that ‘NPP QR Code Standard provides a single common code for payment solutions across multiple platforms’ and that they want to ‘replicate the success of other QR Code real-time payment systems, such as Singapore’s FAST’.
Custom Labels Ltd offer QR codes on any type of label/tag that we produce. These could be used for all types of products, such as Asset Labels containing a sequential number; or to contain a URL or link to an external database. Other applications for QR codes include Calibration Labels, Service & Maintenance Labels, Tamper-Seals, Product Labels, Cable Labels, Non-Adhesive Tags and durable Under-Surface Tags – all of these are available from Custom Labels including fully customised designs, logos and colour matches, as standard.